I got a reply from EBC UK that gives a fair bit more detail for all the pads they offer:
Ultimax (black) is a pad that is going to act as an OE replacement pad. This is a suitable pad for those who are simply looking to replace the pads that came on the car from factory and offer no performance benefits.
GreenStuff is a step up from OEM offering an increased brake response from cold or hot and emit less dust than equivalent semi metallic pads. Greenstuff has been proven in tests to stop a vehicle 20 feet sooner than using stock pads. Pads are fully shimmed, chamfered and slotted for silent braking. However, these pads are not for track or regular fast road use.
RedStuff pads are specifically designed for low dust and low noise. While they do have slightly increased bite from OEM, these are not a fast road or track pad by any means. These pads have a very high friction rating, meaning they're designed to be used on your heavier, saloon/SUV's as the weight of the vehicle is what is going to activate the friction material.
YellowStuff compound is a high performance fast road and daily driving pad that works really well from cold. The dust rating is less than OEM parts. Where necessary all pads come with edge chamfers, noise reduction shims and OEM hardware. Brakes feel superb from first touch of the pedal and stay effective right up to race temperatures
BlueStuff is an ultra high friction race pad with a friction level peaking above 0.6 under braking that will generate more G force than most, if not all pads out there. Blues are capable of street use as it bites well from cold. The big advantage of this pad is that it is one of the world's FIRST AND ONLY out of the box pre-bedded race pads that is surface "heat seared or scorched" at the factory. This gives amazing reductions in pad bed-in time on street or track. Also, being a non-metallic aramid base, it reduces rotor wear and eliminates the firework display spark emitted in high speed braking by competitive semi-metallics although, blues are NOT a low dust pad. There is an amount of DUST with these pads. Disc wear is however drastically reduced and pad life enhanced. Discs wear smooth and flat without ridges.
Note that he says Reds are for heavier cars - not really for something like an Emira. But any of the others should be good depending on your driving style and if and how much track use you intend.
I hope this helps everyone and clears up any confusion (especially any that I created with my previous incorrect posts).